(This abstract was borrowed from another version of this item.)"> (This abstract was borrowed from another version of this item.)">
[go: up one dir, main page]
More Web Proxy on the site http://driver.im/
IDEAS home Printed from https://ideas.repec.org/p/wop/pennpr/98-8.html
   My bibliography  Save this paper

New Developments in the Economic Analysis of Retirement

Author

Listed:
  • Robin L. Lumsdaine
  • Olivia S. Mitchell
Abstract
The world's population is living longer but retiring earlier, and vast numbers of adults now spend as much as a third of their lifetimes relying on public and private retirement benefits. Consequently, labor economists are deeply interested in the forces driving retirement behavior, seeking to understand why people leave their jobs at young ages, how employers respond to an aging workforce, how government programs often induce job-leaving, and the economic consequences of retirement for individuals and society. This chapter examines new developments in retirement economics, focusing first on retirement trends and retiree wellbeing. We next turn to theoretical developments in the retirement literature where new models have enriched our understanding of the role of worker heterogeneity and uncertainty about health and productivity shocks. Lastly, we review some of the lessons that may drawn from the empirical analysis of retirement patterns undertaken over the last decade, showing how natural experiments and exciting new longitudinal datasets afford new opportunities to learn about the demand for and supply of older workers. We conclude that future researchers would do well to explore how retirement decisions are made in a household context, and to integrate saving as well as consumption in the labor supply decision. In addition we argue that much remains to be learned about how workers form expectations regarding their future retirement wellbeing, and about how they adapt when expectations need to be adjusted due to changes in economic, health, family, and other circumstances.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Robin L. Lumsdaine & Olivia S. Mitchell, "undated". "New Developments in the Economic Analysis of Retirement," Pension Research Council Working Papers 98-8, Wharton School Pension Research Council, University of Pennsylvania.
  • Handle: RePEc:wop:pennpr:98-8
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Other versions of this item:

    More about this item

    JEL classification:

    • J0 - Labor and Demographic Economics - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wop:pennpr:98-8. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Hilary Farrell (email available below). General contact details of provider: https://edirc.repec.org/data/prupaus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.